SPRING/SUMMER 2012
ISSUE 8
A Message from Mike Munro, Transocean’s CCO ﷯In 2011, Transocean rolled out its new Vision emphasizing innovation, excellence, incident-free workplace, passion, commitment and delivery of outstanding value to customers, employees and shareholders. This Vision will be achieved through each employee’s individual commitment to our FIRST Core Values, including Integrity and Honesty.
As Transocean’s Chief Compliance Officer, I have been given the privilege to oversee the global ethics and compliance program, known as LCE (Legal Compliance & Ethics). LCE is focused on helping to ensure employees and business partners understand how Integrity and Honesty must be part of each business decision made, everywhere…every day.
﷯An important part of Integrity and Honesty is complying with the important laws and regulations that relate to our business. These laws and regulations are often complex and to ensure compliance, Transocean functions, such as Marketing, Supply Chain, HR, Tax, IT, QHSE and Finance, work together to promote awareness and understanding.
[In addition, Transocean’s NCRP addresses the high compliance risk of working in new countries. See left box for information.]
Each Transocean employee and business partner has an obligation to know and follow all applicable laws and regulations and to contact the subject-matter experts in the appropriate function for guidance if uncertain.
One important area of compliance for Transocean is the area of anti-corruption. Transocean’s anticorruption policy is clear: bribes may not be paid, promised or accepted. Over the years, Transocean has developed extensive training and auditing programs relating to anti-corruption, and has put in place numerous controls and processes to ensure that bribery does not occur. Many of these controls and processes are described in Transocean’s Anti-corruption Guidelines, which for employees can be found on RIGCentral, LCE webpage.
It is also important to remember that it is the responsibility and obligation of each employee or business partner to report any corruption concern. It is essential that any allegation or indication of corruption be immediately brought to the attention of Transocean’s Chief Compliance Officer or Vice President, Internal Audit. As a global company, such allegations may arise from time to time, and it is essential that all corruption allegations are reported and carefully and appropriately reviewed.
Transocean is a truly great company that has been and will continue to be focused on the right things. Transocean’s continued focus on its FIRST Core Values, including Integrity and Honesty, along with our Vision, will ensure that our people and our business partners receive “outstanding value.”
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